Accenture Q2 2024 Earnings Report
Key Takeaways
Accenture reported flat revenue of $15.8 billion, with consulting revenues at $8.0 billion and managed services revenues at $7.8 billion. GAAP EPS increased by 10% to $2.63, and adjusted EPS increased by 3% to $2.77. New bookings reached $21.6 billion. The company updated its fiscal year 2024 outlook, projecting revenue growth of 1% to 3% in local currency.
Revenues were $15.8 billion, flat compared to the second quarter of fiscal 2023.
GAAP EPS increased by 10% to $2.63, and adjusted EPS increased by 3% to $2.77.
New bookings totaled $21.6 billion, with consulting bookings at $10.5 billion and managed services bookings at $11.1 billion.
The company expects full-year revenue growth of 1% to 3% in local currency.
Accenture
Accenture
Forward Guidance
Accenture expects revenues for the third quarter of fiscal 2024 to be in the range of $16.25 billion to $16.85 billion, or negative 1% to positive 3% in local currency. For fiscal year 2024, the company now expects revenue growth to be in the range of 1% to 3% in local currency.
Positive Outlook
- Revenue growth of 1% to 3% in local currency is expected for fiscal year 2024.
- GAAP operating margin for fiscal 2024 is expected to be 14.8%.
- Adjusted operating margin for fiscal 2024 is expected to be 15.5%.
- GAAP diluted EPS is expected to be in the range of $11.41 to $11.64.
- Adjusted EPS is expected to be in the range of $11.97 to $12.20.
Challenges Ahead
- Third quarter fiscal 2024 revenue is expected to be impacted by approximately negative 1% foreign-exchange impact.
- Revenue growth outlook for fiscal year 2024 was revised down from 2% to 5% to 1% to 3%.
- GAAP operating margin outlook for fiscal year 2024 was revised down from a range of 14.8% to 15.0% to 14.8%.
- Adjusted operating margin outlook for fiscal year 2024 was revised down from a range of 15.5% to 15.7% to 15.5%.
- GAAP diluted EPS outlook for fiscal year 2024 was revised down from a range of $11.41 to $11.76 to $11.41 to $11.64.